Senior official injured in crossfire between warring tribes in restive Pakistani district

ISLAMABAD: The visit by a high-level delegation of investors led by American businessperson to Pakistan this week will further improve ties between Washington and Islamabad, Adviser to Finance Minister Khurram Schehzad said this week, noting that its interest in the country’s key economic sectors has “great importance” for Pakistan. 

 A US business delegation led by Texas hedge fund manager Gentry Beach arrived in Pakistan for a two-day visit on Tuesday to explore business opportunities, particularly in sectors like mining and minerals, renewable energy, infrastructure development and technology.

Gentry held meetings with top Pakistani officials during his stay in Islamabad, saying that US could bring in technology to boost Pakistan’s oil and gas and other sectors, and that both countries can immensely benefit from improved ties. 

“Talking to a private TV channel, he [Schehzad] said that Pakistan and US trade relations have significant value, as Pakistan’s trade to US market is surplus,” the Finance Division said in a statement on Friday. 

“He said this US investors delegation visit to Pakistan will further improve ties between the two countries.”

Schehzad said the American delegation expressing interest in Pakistan’s key sectors including mining and minerals, renewable energy, infrastructure development and technology “has great importance for Pakistan.”

“Pakistan is in dire need of investment, and Pakistan has less investment to GDP ratio which we can raise 5-8 percent,” he said. 

Schehzad pointed out that Pakistan’s economic indicators were projecting a positive look, adding that interest rates and inflation had declined while the country’s currency had stabilized, and its foreign reserves had increased. 

“He said that investors are seeing structural reforms in Pakistan, adding that US investors delegation timely came in Pakistan, as smart and sharp investors go where they see changes so that they could get better return,” the Finance Division said. 

The American delegation’s visit this week came as cash-strapped Pakistan, desperate to escape a prolonged macroeconomic crisis, seeks investments from regional and other foreign allies to shore up its $350 billion economy. 

Pakistan in 2023 nearly defaulted on the payment of foreign debts when the International Monetary Fund rescued it by agreeing to a $3 billion bailout to Pakistan. 

Last year, Islamabad secured a new $7 billion loan deal from the IMF. Since then, the country’s economy has started improving with weekly inflation coming down from 27 percent in 2023 to 1.8 percent earlier this month. 

Ties between Islamabad and Washington, once close allies during the Cold War era and after the September 11, 2001 attacks, have remained strained in recent years. 

American officials suspected Pakistan supported the Afghan Taliban in regaining Kabul in August 2021 after 20 years of war, straining ties with Islamabad. Pakistan denies the allegations strongly.

Islamabad: A delegation of the Pakistan Business Council (PBC) Dubai on Friday held a meeting with Pakistan’s Ambassador to the United Arab Emirates (UAE) Faisal Niaz Tirmizi and shared their plans to enhance business to business (B2B) ties between the two countries, the Pakistani embassy said.
The UAE is Pakistan’s third-largest trading partner after China and the United States, and a major source of foreign investment valued at over $10 billion in the last 20 years, according to the UAE foreign ministry.
It is also home to more than a million Pakistani expatriates. Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
The PBC delegation, which comprised its newly elected Board of Directors and was led by Shabbir Merchant, met Ambassador Tirmizi at the Embassy of Pakistan in Abu Dhabi.
“The delegation of Pakistan Business Council presented their vision and strategy in enhancing the business-to-business relationship between Pakistan and the UAE,” the Pakistani embassy said in a statement. “They also sought embassy’s support in materializing their vision.”
The PBC assists Pakistan-related companies and professionals in establishing businesses or working in the UAE through business networking and connections, and information exchange.
The Pakistani ambassador assured the delegates of the embassy’s support in strengthening economic and trade relations between Pakistan and the UAE, according to the Pakistani embassy.
This week, Pakistan’s consul general, Hussain Muhammad, met the PBC officials in Dubai, where Merchant shared with him the council’s strategic roadmap for 2025-2026.
Muhammad appreciated PBC’s efforts in promoting Pakistan’s economic potential in the UAE and stressed the need for business leaders to explore opportunities in Pakistan’s diverse sectors, including information technology, manufacturing, agriculture and tourism.
Pakistan and UAE have stepped up efforts in recent years to strengthen their business and investment relations. In January last year, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure, a Pakistani official said, amid Pakistani caretaker prime minister Anwaar-ul-Haq Kakar’s visit to Davos for the World Economic Forum’s summit.